Tag Archives: fertilisers

Tajikistan sells fertiliser producer to China

DEC. 14 2016 (The Conway Bulletin) — The Tajik parliament ratified an earlier agreement on the sale of Tajik Azot, a fertiliser producer, to China’s Henan Zhong Holding. The Chinese side, which will hold a 51% stake, pledged a $360m investment to modernise the plant. The Tajik government will retain 30% of the profits. In 2014, the government seized Tajik Azot, previously owned by Ukrainian businessman Dmitro Firtash, after Firtash was arrested in Vienna. China has extended its influence over Tajik business this year.

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(News report from Issue No. 309, published on Dec. 16 2016)f

EuroChem to increase production in Kazakhstan

OCT. 4 2016 (The Conway Bulletin) – Switzerland-based fertiliser producer EuroChem said it would increase investment in its phosphate mine in southern Kazakhstan to try to drive up production. EuroChem produces 640,000 tonnes of phosphate rock annually at its Zhambyl mine. It wants to more than double this.

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(News report from Issue No. 299, published on Oct. 7 2016)

Belorussian firm in Turkmenistan suspends wage payment

SEPT. 20 2016 (The Conway Bulletin) – Belgorkhimprom, a Belarusian firm in charge of building the Garlyk mining and processing plant in eastern Turkmenistan, has not paid wages to its workers for three months, according to opposition website Alternative News of Turkmenistan. Belgorkhimprom has not commented. The Garlyk plant will mostly service state-owned Turkmenkali, which produces potash, a fertilizer. Economic hardships since the price of commodities collapsed in mid-2014 have delayed several industrial projects in Central Asia.

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(News report from Issue No. 297, published on Sept. 23 2016)

Chinese company buys Tajik fertiliser plant

SEPT. 7 2016 (The Conway Bulletin) — The Tajik government sold a 50% stake in Tajik Azot, a fertiliser producer, to China’s Henan Zhong Holding, a chemical company. Under the deal, the Chinese company pledged to invest $360m to modernise and operate the plant, giving Tajikistan’s economy a boost. In 2014, the government seized Tajik Azot, previously owned by Ukrainian businessman Dmitro Firtash, after Firtash was arrested in Vienna.

ENDS

(News report from Issue No. 295, published on Sept. 9 2016)

Japanese-Turkish consortium completes chemical factory in Turkmenistan

JULY 8 2016 (The Conway Bulletin) — A Japanese-Turkish consortium said it completed construction at a petrochemical plant in Turkmenistan’s north-eastern Lebap province. Japan’s Mitsui Engineering Shipbuilding, Sojitz Corporation and Turkey’s Renaissance Holding completed the plant, which will have an annual production capacity of 500,000 tonnes of sulphuric acid, used for fertilisers, detergents and synthetic fibres. Most of the plant’s production is earmarked for exports.

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(News report from Issue No. 289, published on July 15 2016)

EBRD funds Georgia’s fertiliser maker

JULY 4 2016 (The Conway Bulletin) — The EBRD said it is about to unlock a $155m loan to Georgia’s fertiliser producer Rustavi Azot. The loan will be part of a $175m funding programme to modernise its production line and reduce the factory’s emissions. RustaviAzot, located 25km south of Tbilisi, employs around 2,000 workers and has an output capacity of up to 220,000 tonnes of ammonia per year. In March, the plant faced closure for failing to pay its gas bill.

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(News report from Issue No. 288, published on July 8 2016)

Lukashenko visits Turkmenistan

DEC. 10 2015 (The Conway Bulletin) – Belarusian president Aleksandr Lukashenko flew into Ashgabat for talks with Turkmen president Kurbanguly Berymukhamedov on how to develop bilateral relations next year. Belarusian companies are involved in mining and fertiliser production in Turkmenistan. Mr Lukashenko was returning from Vietnam.

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(News report from Issue No. 260, published on Dec. 11 2015)

Uzbekistan says it wants foreign investment

NOV. 6 2015 (The Conway Bulletin) – Uzbekistan’s government said it wanted foreign investors to buy stakes in state-owned enterprises, part of a privatisation plan it said was designed to bring expertise into some of its biggest companies.

Deputy PM Rustam Azimov made the statement at an investment forum in Tashkent.

“[The plan is] to attract strategic investors who are able to bring new technology and equipment (and) organise the production of modern and competitive products,” Reuters quoted Mr Azimov as saying.

He cherry-picked three companies, seemingly as a teaser to pique foreign investor interest. These were cement maker Kizilkumcement, chemical producer Ferganaazot and electronics plant Foton.

For foreign investors, though, Uzbekistan has always been a complicated to do business in. It holds a high level of natural resources, mainly gold, gas and cotton, but is riddled through with corruption and intrigue. Western companies have previously had their assets taken by the Uzbek state too.

It remains to be seen if Uzbekistan is serious about opening up to foreign investors — and also whether these investors are Western, Korean, Chinese, Russia or from elsewhere.

The Uzbek government does need to raise funds though to deal with the current economic malaise.

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(News report from Issue No. 256, published on Nov. 13 2015)

China to invest in Kazakh potash

DEC. 14 2014, (The Conway Bulletin) — China agreed to invest $3.8b into developing Kazakhstan’s potash deposits to produce a mineral that can be used in fertiliser production. The massive investment both underscores China’s interest in Kazakhstan and will also help Kazakhstan diversify its economy away from oil and gas.

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(News report from Issue No. 213, published on Jan. 7 2015)

Firtash appeal dashed in Tajikistan

SEPT. 4 2014 (The Conway Bulletin) – An appeal court in Tajikistan upheld the decision of Tajikistan’s High Court to invalidate a takeover by Ukrainian billionaire Dmitro Firtash in 2002 of Tajik fertiliser maker TajikAzot. Analysts have said that the authorities in Tajikistan have used the problems in the country as a cover for a corporate raid.

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(News report from Issue No. 199, published on Sept. 10 2014)